Quarterly report pursuant to Section 13 or 15(d)

Consolidated Statements of Cash Flows

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Consolidated Statements of Cash Flows - USD ($)
$ in Thousands
6 Months Ended
Jul. 02, 2022
Jun. 26, 2021
Cash Flows Provided By Operating Activities    
Net income $ 42,541 $ 13,025
Adjustments to reconcile net income to net cash provided by operating activities    
Depreciation of property and equipment 3,835 2,979
Reduction in carrying amount of right-of-use assets 2,615 0
Intangible amortization 14,871 13,623
Deferred finance fee amortization 1,832 1,487
Provision for losses on accounts receivable 1,158 (666)
Share based compensation 1,510 5,262
Loss on extinguishment of debt 0 2,415
Change in fair value of contingent consideration 0 687
(Gain) Loss on sale of assets (28) 43
Loss on abandonment of PP&E 571 0
Change in fair value of derivative warrant liabilities 0 1,929
Undistributed (earnings) losses of affiliate (60) (105)
Deferred income taxes 0 (768)
Changes in operating assets and liabilities    
Accounts receivable (26,682) (3,756)
Costs and estimated earnings in excess of billings and billings in excess of costs and estimated earnings on uncompleted contracts 1,406 (5,216)
Prepaid expenses and other current assets 2,481 (2,946)
Inventory (10,173) (11,008)
Accounts payable 1,464 15,393
Other accrued expenses 6,971 13,783
Other assets and long-term liabilities (1,160) (1,338)
Net Cash Provided By Operating Activities 43,152 44,823
Cash Flows Used In Investing Activities    
Proceeds from sale of equipment 45 79
Purchases of property and equipment (5,268) (3,993)
Cash paid for acquisition, net of cash acquired 0 (1,565)
Net Cash Used In Investing Activities (5,223) (5,479)
Cash Flows Used In Financing Activities    
Repayments on line of credit (6,369) 0
Distributions to Janus Midco LLC unitholders 0 (4,174)
Principal payments on long-term debt (4,034) (63,238)
Proceeds from merger 0 334,874
Proceeds from PIPE 0 250,000
Payments for transaction costs, net 0 (44,489)
Payments to Janus Midco, LLC unitholders at the business combination 0 (541,710)
Principal payments under capital lease obligations (66) 0
Payments for deferred financing fees 0 (766)
Cash Used In Financing Activities (10,469) (69,503)
Effect of exchange rate changes on cash and cash equivalents 66 191
Net (Decrease) Increase in Cash and Cash Equivalents 27,526 (29,968)
Cash and Cash Equivalents, Beginning of Period 13,192 45,255
Cash and Cash Equivalents, End of Period 40,718 15,287
Supplemental Cash Flows Information    
Interest paid 18,296 16,848
Income taxes paid 11,889 774
Cash paid for operating leases 3,832 0
Fair value of earnout 0 687
Fair value of warrants 0 1,929
Non-cash investing and financing activities:    
Right-of-use assets obtained in exchange for operating lease obligations 42,380 0
Right-of-use assets obtained in exchange for finance lease obligations $ 706 $ 0